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Career and Education Opportunities for Income Tax Advisors in St. Paul, Minnesota

St. Paul, Minnesota provides a wide variety of opportunities, both career and educational, for income tax advisors. Currently, 1,270 people work as income tax advisors in Minnesota. This is expected to shrink 6% to about 1,200 people by 2016. This is not quite as good as the nation as a whole, where employment opportunities for income tax advisors are expected to grow by about 2.9%. In general, income tax advisors prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.

Income tax advisors earn about $14 hourly or $29,700 annually on average in Minnesota and about $14 per hour or $29,420 yearly on average nationally. Income tax advisors earn less than people working in the category of Accounting and Auditing generally in Minnesota and less than people in the Accounting and Auditing category nationally. Income tax advisors work in a variety of jobs, including: tax manager, income tax consultant, and tax specialist.

There are eight schools within twenty-five miles of St. Paul where you can study to be an income tax advisor, among seventy-seven schools of higher education total in the St. Paul area. Given that the most common education level for income tax advisors is a high school diploma or GED, you can expect to spend only a short time training to become an income tax advisor if you already have a high school diploma.

CAREER DESCRIPTION: Income Tax Advisor

Income Tax Advisor video from the State of New Jersey Dept. of Labor and Workforce Development

In general, income tax advisors prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.

Income tax advisors ready or help in preparing simple to complex tax returns for individuals or small businesses. They also use all appropriate adjustments and credits to keep clients' taxes to a minimum. Equally important, income tax advisors have to inspect financial records such as income statements and documentation of expenditures to establish forms needed to ready tax returns. They are often called upon to consult tax law handbooks or bulletins to establish processes for preparation of atypical returns. They are expected to compute taxes owed or overpaid, using computers and complete entries on forms, following tax form instructions and tax tables. Finally, income tax advisors furnish taxpayers with sufficient data and advice to insure correct tax form completion.

Every day, income tax advisors are expected to be able to see details at a very fine level of focus. They need to read and understand documents and reports. It is also important that they deal with basic arithmetic problems.

It is important for income tax advisors to check data input or verify totals on forms prepared by others to uncover errors in arithmetic or procedures. Somewhat less frequently, income tax advisors are also expected to calculate form preparation fees in line with return complexity and processing time required.

They also have to be able to interview clients to obtain additional data on taxable income and deductible expenses and allowances And finally, they sometimes have to inspect financial records such as income statements and documentation of expenditures to establish forms needed to ready tax returns.

Like many other jobs, income tax advisors must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in St. Paul include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Insurance Appraiser. Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Income Tax Advisor Training

Anoka-Ramsey Community College - Coon Rapids, MN

Anoka-Ramsey Community College, 11200 Mississippi Blvd. NW, Coon Rapids, MN 55433-3470. Anoka-Ramsey Community College is a medium sized college located in Coon Rapids, Minnesota. It is a public school with primarily 2-year programs and has 8,253 students. Anoka-Ramsey Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated two students in 2008.

North Hennepin Community College - Brooklyn Park, MN

North Hennepin Community College, 7411 85th Ave N, Brooklyn Park, MN 55445. North Hennepin Community College is a medium sized college located in Brooklyn Park, Minnesota. It is a public school with primarily 2-year programs and has 6,904 students. North Hennepin Community College has a less than one year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated ten and seven students respectively in 2008.

Hennepin Technical College - Brooklyn Park, MN

Hennepin Technical College, 9000 Brooklyn Blvd, Brooklyn Park, MN 55445. Hennepin Technical College is a medium sized college located in Brooklyn Park, Minnesota. It is a public school with primarily 2-year programs and has 5,617 students. Hennepin Technical College has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated thirteen students in 2008.

Dakota County Technical College - Rosemount, MN

Dakota County Technical College, 1300 145th Street East, Rosemount, MN 55068-2999. Dakota County Technical College is a small college located in Rosemount, Minnesota. It is a public school with primarily 2-year programs and has 2,919 students. Dakota County Technical College has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated three students in 2008.

University of Minnesota-Twin Cities - Minneapolis, MN

University of Minnesota-Twin Cities, 100 Church Street SE, Minneapolis, MN 55455-0213. University of Minnesota-Twin Cities is a large university located in Minneapolis, Minnesota. It is a public school with primarily 4-year or above programs. It has 51,140 students and an admission rate of 53%. University of Minnesota-Twin Cities has a master's degree program in Taxation which graduated thirty-eight students in 2008.

Century Community and Technical College - White Bear Lake, MN

Century Community and Technical College, 3300 Century Ave N, White Bear Lake, MN 55110. Century Community and Technical College is a medium sized college located in White Bear Lake, Minnesota. It is a public school with primarily 2-year programs and has 9,384 students. Century Community and Technical College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated four students in 2008.

Minneapolis Community and Technical College - Minneapolis, MN

Minneapolis Community and Technical College, 1501 Hennepin Ave, Minneapolis, MN 55403-1779. Minneapolis Community and Technical College is a medium sized college located in Minneapolis, Minnesota. It is a public school with primarily 2-year programs and has 9,539 students. Minneapolis Community and Technical College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated four students in 2008.

Anoka Technical College - Anoka, MN

Anoka Technical College, 1355 W Hwy 10, Anoka, MN 55303. Anoka Technical College is a small college located in Anoka, Minnesota. It is a public school with primarily 2-year programs and has 2,072 students. Anoka Technical College has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated two students in 2008.

CERTIFICATIONS

Accredited Tax Advisor: This credential is for practitioners who handle sophisticated tax planning issues, including ownership of closely held businesses, qualified retirement plans and complex estates.

For more information, see the Accreditation Council for Accountancy and Taxation website.

LOCATION INFORMATION: St. Paul, Minnesota

St. Paul, Minnesota
St. Paul, Minnesota photo by Gridge

St. Paul is located in Ramsey County, Minnesota. It has a population of over 279,590, which has shrunk by 2.6% in the past ten years. The cost of living index in St. Paul, 99, is near the national average. New single-family homes in St. Paul are valued at $213,300 on average, which is well below the state average. In 2008, thirty new homes were built in St. Paul, down from seventy-four the previous year.

The three most popular industries for women in St. Paul are educational services, health care, and finance and insurance. For men, it is educational services, professional, scientific, and technical services, and construction. The average commute to work is about 21 minutes. More than 32.0% of St. Paul residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 12.0%, is higher than the state average.

The unemployment rate in St. Paul is 7.4%, which is greater than Minnesota's average of 7.0%.

The percentage of St. Paul residents that are affiliated with a religious congregation, 61.3%, is more than both the national and state average. Zion Church, Convent of the Visitation and Saint Paul Cathedral are some of the churches located in St. Paul. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the Baptist General Conference.

St. Paul is home to the Saint Paul Orphange and the Wilder Center as well as Terrace Park and East View Playground.